OH Auctioneer Practice Questions - Ohio Licensed Auctioneer Exam

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An auctioneer has a trust account balance of $45,000 from three different consignors: Consignor A ($20,000), Consignor B ($15,000), and Consignor C ($10,000). If Consignor A's settlement is due, how much should the auctioneer disburse from trust?

$$45,000 $$20,000 minus the agreed commission and expenses for Consignor A's auction $$15,000 Any amount up to $45,000

Correct Answer:

$$20,000 minus the agreed commission and expenses for Consignor A's auction

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